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Thursday, July 20, 2006

Survey: Aging Workforce and Technology to Help Skills Gap

Knowledge Infusion has announced the preliminary results of a survey of 375 organizations on how they are positioned to react to the aging workforce, upcoming baby-boomer retirements, and looming shortage of skilled workers. Among other things, 74% of respondents indicate that the aging workforce will somewhat or greatly impact their organization’s ability to execute goals and strategy by 2010.

The survey also found that 50% of organizations indicate that retirements will cause a knowledge/skill gap, which many believe will lead to reduced capacity, lower quality of work, and increased expenses associated with attracting and retaining skilled workers. The top three operations in place to address the knowledge/skill gap are automating processes, formalizing succession planning programs, and mentoring programs.

“There is a clear need for organizations to understand the role technology can play in the management of their workforce in addressing upcoming retirements, knowledge transfer, and the shortage of skilled workers,” said Heidi Spirgi, President of Knowledge Infusion. “We see customers succeeding when they have a well developed and holistic plan for managing talent that is tied to technology.”

The full results will be released at a live webinar, sponsored by Cornerstone OnDemand, on July 26, 2006 at 2:00 Eastern.